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Cheaper to Buy or to Rent?

Published On: August 26, 2011


According to Trulia.com, In 74% of America's most popular cities, it is cheaper to purchase a home rather than rent. This is because of the super-low interest rates and financial institutions desperate to get rid of their toxic assets. It is cheaper to rent in just 12% of America's famous cities.

For those interested in a new home, now is a great time to buy. Interest rates are at record lows, and with the Fed promising to keep interest rates low, it is a buyer's market. Many homes in Southern California have lost about 50% of their value compared to the 2007 value. Many predict that housing prices will be low for several more years as the economy slowly improves, but now is the time to act. With all of this economic uncertainty, anything can change at a moment's notice, and good deals may only be good deals for a short time.